Washington, DC (LifeNews.com) — A new annual report from Planned Parenthood shows the nation’s largest abortion business has made over $1 billion in income for the first time in its history. The non-profit pro-abortion group shows the historical gain in its new annual report covering 2006-2007.

While Planned Parenthood made $972 milion in its 2005-2006 annual report, last fiscal year it brought in $1.017 billion.

On its web site posting of the annual document, Planned Parenthood says it "highlights our advancements in providing and protecting trusted health care services and medically accurate sexuality education."

The report shows an increase in the number of provided abortions from 264,943 in 2005 to 289,650 in 2006.

Planned Parenthood reveals it has doubled “excess of revenue over expenses” funds from $55.7 million in 2005 to $112 million in 2006.

Of concern to pro-life groups, Planned Parenthood acknowledges the receipt of over $336 million in government grants and contracts from both state and federal governments. However, the abortion business provides no breakdown showing how much Planned Parenthood received from the federal government or specifics states.

The revelations from the annual report upset Tony Perkins, the head of the Family Research Council.

"A majority of Americans oppose taxpayer funding of abortion — however, still Planned Parenthood receives more than $300 million in taxpayer funding each year for ‘family planning’ projects that help bolster their abortion trade," he told LifeNews.com.

He said Planned Parenthood was not a "wise investment" of public money because of its history.

"Would you invest in a company whose affiliates are complicit in sexual crimes against children?" he asked, pointing to numerous instances of its centers doing abortions on victims of statutory rape and sexual abuse.

"Would you take your hard-earned money and pile it into a company whose fundraisers "get excited" when someone wishes to target African-American babies for extinction?" he asked.

The comment refers to a recent investigative report from students at UCLA who found Planned Parenthood officials excited about receiving donations from a racist donor.

Perkins said the ultimate slap in the face to the majority of Americans who are pro-life is the fact that Planned Parenthood still receives government funds despite the fact its political action committee will spend $10 million in this year’s election on pro-abortion candidates.